Sanctions on products originating in Russia
21-09-2023
From 30 September, importing and purchasing steel and iron products originating in Russia will be banned. Until now, sanctions for the fasteners sector focused specifically on products from Russia. The sanction does not affect intra-EU trade or cover goods within the EU before 30 September.
In the restrictive measures against Russia, the EU and UK Government imposed a far-reaching ban on importing and purchasing certain steel products processed in third countries. By third countries, we mean all countries other than UK and EU member states and Russia.
The importer provides proof.
It is up to the importer to provide proof of the country of origin of the iron and steel inputs used to process the product in such a third country. As an importer of the goods in question to the UK, Fabory immediately carried out its due diligence. We have engaged with all our suppliers and service providers to ensure that sufficient proof of the steel's country of origin is provided to UK authorities at the time of import.
Impact of Required Evidence
The sanction requires the fastener industry to move to a new level of transparency. This will impact the required paper trail at each outsourced production stage. The required proof will affect small producers/distributors and significantly impact low-rotation and niche products.
Collaborate
Fabory is in an excellent position to comply with UK and EU regulations and ensure continuity of supply. Although we anticipate some market disruption and scarcity for the affected items, the impact will be limited for most customers. In the coming period, we will continue to work with the partners who have indicated their commitment to comply with the UK and EU regulations.
Belief in sanctions
Russian entities have never been part of Fabory's supplier base, and we do not stock or trade products or services of these origins. We believe sanctions contribute to restoring peace in Ukraine and the region. With other UK and EU policies, sanctions are a concrete means of upholding UK and EU values of human dignity, freedom, democracy, the rule of law and human rights.
